NEW
YORK, Feb. 21, 2024 /PRNewswire/ -- SMX
(Security Matters) PLC (NASDAQ:SMX; SMXWW), on
February 20, 2024, closed its
previously announced underwritten public offering of 12,124,666
ordinary shares (the "Shares"), par value $0.0022 per share, at a public offering price of
$0.24 per share, or pre-funded
warrants in the event the purchase of the Shares would cause the
beneficial ownership of a purchaser in the offering to exceed 4.99%
of the ordinary shares (the "Pre-Funded Warrants"), which are
initially convertible on a 1-for-1 basis into ordinary shares, at a
public offering price per Pre-Funded Warrant of $0.2378, for aggregate gross proceeds of
approximately $2.9 million, prior to
deducting underwriting discounts and other offering
expenses.
EF Hutton LLC acted as the sole book running manager for the
offering.
The Securities and Exchange Commission ("SEC") declared
effective a registration statement on Form F-1 relating to these
securities on February 15, 2024 (File
No. 333-276760). A final prospectus relating to the offering will
be filed with the SEC. The offering is being made only by means of
a prospectus, copies of which may be obtained, when available,
from: EF Hutton LLC, 590 Madison Avenue, 39th Floor,
New York, NY 10022, Attention:
Syndicate Department, or via email at syndicate@efhuttongroup.com
or via telephone at (212) 404-7002.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About SMX (Security Matters) PLC
As global businesses face new and complex challenges relating to
carbon neutrality and meeting new governmental and regional
regulations and standards, SMX is able to offer players along the
value chain access to its marking, tracking, measuring and digital
platform technology to transition more successfully to a low-carbon
economy.
Forward-Looking Statements
The information in this press release includes "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements include, but are not
limited to, statements regarding expectations, hopes, beliefs,
intentions or strategies regarding the future. In addition, any
statements that refer to projections, forecasts or other
characterizations of future events or circumstances, including any
underlying assumptions, are forward-looking statements. The words
"anticipate," "believe," "contemplate," "continue," "could,"
"estimate," "expect," "forecast," "intends," "may," "will,"
"might," "plan," "possible," "potential," "predict," "project,"
"should," "would" and similar expressions may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking. Forward-looking
statements in this press release may include, for example: the
intended use of proceeds from the offering; successful launch and
implementation of SMX's joint projects with manufacturers and other
supply chain participants of steel, rubber and other materials;
changes in SMX's strategy, future operations, financial position,
estimated revenues and losses, projected costs, prospects and
plans; SMX's ability to develop and launch new products and
services; SMX's ability to successfully and efficiently integrate
future expansion plans and opportunities; SMX's ability to grow its
business in a cost-effective manner; SMX's product development
timeline and estimated research and development costs; the
implementation, market acceptance and success of SMX's business
model; developments and projections relating to SMX's competitors
and industry; and SMX's approach and goals with respect to
technology. These forward-looking statements are based on
information available as of the date of this press release, and
current expectations, forecasts and assumptions, and involve a
number of judgments, risks and uncertainties. Accordingly,
forward-looking statements should not be relied upon as
representing views as of any subsequent date, and no obligation is
undertaken to update forward-looking statements to reflect events
or circumstances after the date they were made, whether as a result
of new information, future events or otherwise, except as may be
required under applicable securities laws. As a result of a number
of known and unknown risks and uncertainties, actual results or
performance may be materially different from those expressed or
implied by these forward-looking statements. Some factors that
could cause actual results to differ include: the ability to
maintain the listing of the Company's shares on Nasdaq; changes in
applicable laws or regulations; any lingering effects of the
COVID-19 pandemic on SMX's business; the ability to implement
business plans, forecasts, and other expectations, and identify and
realize additional opportunities; the risk of downturns and the
possibility of rapid change in the highly competitive industry in
which SMX operates; the risk that SMX and its current and future
collaborators are unable to successfully develop and commercialize
SMX's products or services, or experience significant delays in
doing so; the risk that the Company may never achieve or sustain
profitability; the risk that the Company will need to raise
additional capital to execute its business plan, which may not be
available on acceptable terms or at all; the risk that the Company
experiences difficulties in managing its growth and expanding
operations; the risk that third-party suppliers and manufacturers
are not able to fully and timely meet their obligations; the risk
that SMX is unable to secure or protect its intellectual property;
the possibility that SMX may be adversely affected by other
economic, business, and/or competitive factors; and other risks and
uncertainties described in SMX's filings from time to time with the
Securities and Exchange Commission.
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SOURCE SMX
